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Carnival Roundup

Finance

 

Live Real, Now was included in the following carnivals recently:

Yakezie Carnival hosted by Consumer FU

Finance Carnival for Young Adults hosted by PF Carny

Carnival of Money Pros hosted by Savvy Scot

Carnival of Retirement #63 hosted by Midlife Finances

Yakezie Carnival hosted by Thirty Six Months

Carnival of Money Pros hosted by Making Sense of Cents

Carnival of Financial Independence #7 hosted by Reach Financial Independence

 

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Born to Launch

Business, Life

I’ve recently discovered something about myself: I like doing new things.

More to the point of this post: I like making new things.

I also like learning new things.

Unfortunately, once the newness wears off, I start to lose interest.

I’m a software engineer, so I regularly build new things and solve new puzzles.  When a project gets into maintenance mode and the new stuff ends, I want to chuck the whole thing in the river and move on.

That carries over into other things, too.  Start a business, lock down some skills, get some customers, then enter maintenance mode.  Boring.

Pick up a new hobby, achieve a basic level of mastery, watch it stop being fun.

Play a new video game, get good at it, get bored.

It’s a flaw in my character and it’s a pretty serious flaw.  Soon after I reach the point where I can fly with a new skill or project, I quit wanting to do it.

When it quits being new, it quits being fun.

When I pick up a new hobby, I get good at it, I get bored with it, so the setup equipment tends to collect dust.

Some of this is work stuff, which isn’t supposed to be fun.  If it were, they wouldn’t call it “work”, they’d call it “happy fun time”.

Some of this could replace work stuff, but I’m not sure how to power through when I hit this particular wall.  Just making money doesn’t keep something exciting.  If I’m not excited, it’s hard to stay motivated, which is probably why I let the dishes pile up. (Sorry, honey!)

There is a good side to this flaw:  I’m never bored.  I fill notebooks with the things I want to do next, from blacksmithing lessons to building a foreign language learning site.  I have absolute confidence that I’ll never be bored for long, and I’ll never be short of new ways to make money, but that doesn’t make me feel stable.

I have a need for stability, and I have a need for new.   Finding that balance is a challenge.

Maybe I just need to launch things faster to build a bigger safety net.   That would let me revel in the new without putting my lifestyle at risk.

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Whose Line Is It Anyway? Why do some shows return from the dead?

News

Aisha Tyler
Aisha Tyler (Photo credit: MandeePhoto)

Watching TV in the summer used to mean surfing channels of reruns, but lately there seems to be a slew of “new” shows that are repeating old ones. Networks and cable channels are bringing back previously popular shows such as “Whose Line is it Anyway?”, “Hawaii Five-O”, and “Dynasty”. While some people are thrilled that their favorite shows are back, a lot more of us are wondering why we need to keep rehashing the past.

The answer isn’t that the networks have suddenly become nostalgic. With increasing competition from internet videos and more cable channels, many TV networks have seen their profit from advertising drop in the past several years. More worrisome for the networks, many economists are predicting that the model of having companies pay for advertising during show breaks will become obsolete over the next decade.

These factors mean that TV stations are not very willing to take risks with new shows. A new drama or science fiction show can take millions of dollars to produce, and in some cases it will be pulled within a few episodes if it fails to catch on. When reviving an old show, a network has some guarantee that it will be popular. While not every remake catches on (Charlie’s Angels anyone?), a remake will usually attract enough interest to make the first episode a success.

The costs to produce these shows are also much lower than “new” shows. In many cases, networks already own the property rights to the show as well as contracts with many of the former actors, directors, and producers. In several cases, they also have access to props, costumes, and set pieces. Because of this, they can produce a pilot for a much lower costs than a “new” show.

Finally, advertisers like the idea of bringing back a show. While a network usually has to struggle to find sponsors for shows that don’t have a full season of Nielsen data to show, they can easily sell a show that advertisers are already familiar with. Furthermore, advertisers like that they know what to expect. Without seeing a single episode, an advertiser can accurately guess at the demographic that will be attracted to the show just by looking at the data from the original show. Because advertisers are familiar with the plot of these shows, they are also more willing to negotiate for product placement within the show itself. In some cases, advertisers have even suggested how their product could be incorporated into an episode before the first script is even finalized.

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I Smell a Scam

Finance

I hate scammers. Whether it’s the garage-sale shoplifter, telemarketing “charities” with 99% overhead, 3-card-monte

shell game
shell game (Photo credit: mixatal (Clive Power))

dealers, or the guy who begs Grandma for cash every week, they all need to be strung up.  Since vigilante justice is generally illegal and occasionally immoral, it’s best to just avoid the problems from the start.  Here are some scams to watch out for.

Pyramid Scams – All of the little parties people throw to earn free items at the expense of their friends are pyramid schemes.  Most of those are legitimate money-sinks.  A few, however, exist solely to get their “consultants” to bring in more consultants.  The sales aren’t the actual way to make money.  If you don’t have anyone “downstream” you won’t make any money.  If the focus isn’t on selling an actual product or service, but is instead on bringing in people under you, you have entered the world of pyramid scams. Generally illegal and always immoral.  Don’t sign up and, if you do, don’t ask me to participate.

Advance Fees and Expensive Prizes – If you win a contest and you are expected to send money to claim your prize, it is a scam.  You don’t have to pay sales tax in advance.  You don’t have to pay transfer fees.  Real prizes are delivered free, accompanied by a 1099, because prizes are income.   No prize requires pre-payment. No loan service requires “finder’s fees”.   If it doesn’t sound right, don’t pay it and certainly don’t give your bank information to anyone you can’t verify.

Work at Home – The most common work-at-home job I’ve found is stuffing envelopes.  You see the signs on telephone poles all over the city.  “Make $10/hour stuffing envelopes from the comfort of your own home!  Just send $50 to….”   When you get the instructions, you are told to hand up signs telling people to send you $50 for instructions on how to make $10/hour stuffing envelopes.  Everybody is feeding off of everybody else.

Charity – Never give money to a charity over the phone.  Always take the time to verify where you are sending your money.  Some freak may call to tug on your heartstrings with a sob story, but you don’t have to give them money.  At least ask them to send it in writing so you can do some checking, first.

Phishing – Simply put, don’t click on any link in any email, unless you know where it is going.  If it is a link to a financial institution, go enter the address into the address bar yourself.   If you find yourself on a site you don’t recognize, don’t give them your personal information and don’t ever reuse your usernames and passwords.   If you do, one bad site could get access to everything you do online.

[ad name=”inlineleft”]Foreign Lottery – To be clear, Spain did not just hold a international lottery and randomly draw your email address. No lottery in the world works that way.  If you didn’t enter the lottery while you were in Spain, you aren’t going to win it.   The scam is that you need to provide your bank information, including a number of release forms so the scammers can transfer money to you.  In reality, you are signing over control of your account and will be wiped out.

Nigerian/419 Emails – Ex-Prince WhateverHisNameIs wants your help to get his fortune out of WhereverHeIsFrom.   The New Widow Ima F. Raud has an inheritence that she won’t live long enough to spend.  They’ve both been given your name as a trustworthy person to handle the transactions in exchange for a mere $10 million.   What friends do you have that would make this seem legitimate? Once again, they will get your bank information and take your money.  At a minimum, they will try to get you to pay a few thousand dollars for “Transfer fees”.  Don’t do it.

Overpayment by Wire – I had this one attempted on my last week.  You sell something online.  A potential buyer agrees to purchase the item, sight-unseen.  They’ll send a cashier’s check and, after it clears, one of their agents will pick it up.  Unfortunately, the buyer’s secretary screwed up and added a zero to the check.  Would you mind wiring the overpayment back, minus a small fee for the hassle?  The check is bogus and there is no way to verify it.   You’ll deposit the check and it will be assumed to be real.  The bank will make the funds available well before it comes back as fraud.  You’ll see the available funds and send the money by non-refundable Western Union and some thug in Nigeria gets a new iPhone.

Foreclosure Scams – Some scammers try to prey on the vulnerable because they are, well, vulnerable.   If you are facing foreclosure, be very careful about where you turn for help.   One scam is to get you to sign over your home “temporarily” to clear the title.  That doesn’t work, but you won’t find that out until you are handed an eviction notice and told you still owe the money.

Stranded Friends – You get an email from a friend saying he’s in London/Moscow/Sydney/Wherever, and he’s been mugged.   He’s got nothing and needs $2500 to get home.  Can you help?   Do you really have friends close enough to ask for a $2500 international bailout, but not so close they tell you about the vacation ahead of time? Would they really be too timid to call you collect instead of begging for change to use an internet cafe?

Selling Your Home: For Sale by Owner

Finance

Image by Casey Serin via Flickr

When you’re preparing to sell your home, your first instinct is often to rush straight to a realtor.   There are benefits to using a trained real estate agent, but it isn’t always necessary.

The biggest motivation to skip the realtor is avoiding the fees, which can run as high as 7% or more in some places.  What does that 7% get you?

First, it gets you experience.  Realtors know which hoops you have to jump through, from both a legal and a marketing perspective.  Do you need an inspection?  How much of your stuff should you move to storage?  Are you comfortable with high-dollar negotiations?

Time is another critical item in the fee.  Do you have a minimum of an hour to dedicate to advertising and screening potential buyers?  Every day?  Do you have a flexible schedule to show your house at times convenient for the buyers?

The third element is access to the Multiple Listing Service(MLS), which lets other realtors see your home listing.  There are alternative listing services you can use, but none are as widely know as MLS.

There are some good reasons to use a realtor, but none of that means you can’t sell your home yourself.  FSBOs are done every day.

If you are nervous, your local community education program may have a course on selling your home yourself.  These courses are usually very affordable.

Some tips:

  • Be objective about pricing.  Look at the selling price of similar homes in the area, NOT what your dream price is or how much you have spent on improvements.
  • Always keep your home ready to show.  Keep the dishes done, everything put away, and the floors mopped.  The “lived-in” look will not help your house sell.
  • Keep track of the potential buyers.  Put the name, address, phone number, and any identifying notes in a spreadsheet so you can follow up later if your house doesn’t sell.
  • A bid is not binding.  Don’t stop advertising until you close on the sale.
  • Make a fact sheet and blank purchase agreement that potential buyers can take home.
  • Hire professionals where necessary: lawyers, inspectors, and closing agents.

Selling your home yourself can be intimidating, but it is a job you can tackle yourself for a significant savings.  Would you try it?

Fat guy running

Life

As part of my effort to improve every part of my life, I have decided to get back in shape. Twelve years ago, I worked in a factory during the day and cooked in a resaurant in the evening. I didn’t have a car, so I biked 5 miles in between my jobs. Fast forward 3 kids, a desk job, and 100 pounds later. I don’t enjoy getting winded on three flights of stairs and I like running while my daughter rides her bike. I’m going to get back in shape.

As a part of that effort, I recently bought a bike. I thought I was getting it for a steal, until I took it out. The chain kept slipping, the shifters were difficult, and it was too small for my frame. I took it back. A bike that would work well for me would cost $200-300, more than currently fits in my budget. Running is cheap, right? It is, unless I go for the runner-geek purchases. Every hobby and activity can become expensive if you let it. I may invest in some running shoes, but that will be the extent of my runner-geek shopping.

My plan was to run according to this this schedule, running every other day. Run one day, rest the next. The first day in week 3, I got petellofemoral pain, or “runner’s knee”. I went to the doctor and got x-rayed. There is nothing even hinting at major damage, which has always been a fear of mine, due to my barometer knee pain. The doctor gave me a sheet of stretching and strengthening exercises to do and told me to put running on hold for a bit. I will be doing the exercises every day this week. Next week, I’m starting over with my running schedule. I will be giving my knees an ice massage after each run and doing the exercises on the off days.[ad name=”inlineleft”]

I am writing this in October and have been running for half of September. Hopefully, the city will keep the roads plowed enough that I can run all through the winter. The schedule may slow down a bit, depending on weather, but I’m hopeful. By the time this posts, I will have a lot more information about how well I am doing.

Update: Mid-November.  Where did the last month go?  It’s amazing how fast time slips away if you aren’t watching it.  My barometer knee pain has been back, and life has been hectic.  I need to get his habit going again, before it freezes to much to start.